EUR/USD faces strong support at 1.1250, good to buy at dips
Major support – 1.1250 (trend line joining 1.11527 and 1.12150)
The pair has taken support near 55 day EMA and jumped till 1.13252 at the time of writing. It is currently trading around 1.13225
Short term trend is slightly bullish as long as support 1.12500 holds.
Any break below 1.1250 will drag the pair till 1.1200/1.11500.
On the higher side minor resistance is around 1.13370 and any break above targets 1.1365 (200 day 4H MA)/1.1400/1.1450 level.
Overall bearish invalidation only above 1.16200.
It is good to buy at dips around 1.1310 with SL around 1.1250 for the TP of 1.1398/1.1450
The pair has taken support near 55 day EMA and jumped till 1.13252 at the time of writing. It is currently trading around 1.13225
Short term trend is slightly bullish as long as support 1.12500 holds.
Any break below 1.1250 will drag the pair till 1.1200/1.11500.
On the higher side minor resistance is around 1.13370 and any break above targets 1.1365 (200 day 4H MA)/1.1400/1.1450 level.
Overall bearish invalidation only above 1.16200.
It is good to buy at dips around 1.1310 with SL around 1.1250 for the TP of 1.1398/1.1450